Chase Sapphire Preferred 80,000-point bonus offer and bonus eligibility

[This promotion is expired, now its currently 60,000 points]
Chase Sapphire Preferred is one of the most popular cards in Chase credit card history. Now, it’s taken to a different level with the elevate bonus offer. Chase Sapphire Preferred gives limited time 80,000 bonus points after spending $4,000 on purchases in the first three months from account opening. That’s 20,000 more points than the previous offer.

This limited-time promotion is valid till Nov 8th

This increased offer makes it worth $1000 on travel redemption, that’s $250 more than the previous offer. This offer is the highest ever for the Preferred card and only for a limited time.

Who’s eligible for Chase Sapphire Preferred bonus

The Chase rewards eligibility says,

The product is not available to either (i) current cardmembers of any Sapphire credit card, or (ii) previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 48 months. If you are an existing Sapphire customer and would like this product, please call the number on the back of your card to see if you are eligible for a product change. You will not receive the new cardmember bonus if you change products.

You can only have one Sapphire credit card at a time, which means those who are current cardmembers of the Chase Sapphire Preferred, Chase Sapphire Reserve, or the no-annual-fee Chase Sapphire Card cannot apply for this card or receive the bonus.

The important point to note here is, the 48 months period is from when you got the last sign-up sapphire bonus.  Please remember that this is not the only factor for approval, a number of factors go into card approval, such as the 5/24 rule, time since your last card approval, your income, total no:of cards that you own, and more.

One way to find out how long its been since your last bonus, check your old card statements. Find out the month in which bonus points got credited. If the bonus was credited in Oct 2016, its better to wait until Nov 2020 to apply for the new Sapphire card.

With the current economic situation, the approval process is a lot more stringent and may require additional income verification.

If you have a plan to cancel any of the cards, its always suggested downgrading the card to a different version rather than canceling. For example, I always downgraded my old Sapphire card to Freedom or Freedom unlimited.

Don’t forget about the newly revamped Chase Freedom Flex with some great promotions and benefits.

Why this is the best time to get this promotion

This is the right time to get a new credit card with all the holiday shopping and expense and gain some rewards in your wallet. They even expedite the card by just call away to 888-338-2586 after the approval.

The 3 months period goes well into the Nov-Dec holiday season, giving you good buffer time to put some expenses and reach the $4000 spend. This is a limited-time promotion, so definitely best time to take advantage of this.

This elevated bonus is rare and should consider getting one if you have bigger spend coming up and rack up the bonus points that are worth $1000.

The Chase Sapphire Preferred is a solid card, even with its annual fee — especially for points and miles beginners and those new to travel. The new increased 80,000 welcome bonus makes this the best available Travel Rewards Card that has an annual fee of less than $100. You can always upgrade to Chase Sapphire Reserve after 12 month period to enjoy the travel benefits. This is the right time and once travel restrictions are relaxed, leap into Reserve benefits.